Have you considered a low emission car?
For capital allowances purposes it is possible to receive a 100% deduction from profits when you choose a car with CO2 emissions below 95g/km or less.
This first year allowance is available for vehicles purchased before 31st March 2015 which means that the full cost of the vehicle is allowable as a deduction in the form of an allowance against profits. If those profits were chargeable at the small companies rate (or basic rate for unincorporated businesses) of 20% a low emissions vehicle costing £15,000 would secure a tax saving of £3,000 !
Contact us
For further information please contact us. Email robert.salenius@hghyork.co.uk or call 01904 655202.
